PENGARUH PROFITABILITAS, KEBIJAKAN DIVIDEN, DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of profitability, dividend policy and investment decision on the firm
value. The firm value was a measurement factor which where the company is seen as having a helathy condition
or not. Furthermore, the profitability measured by return on assets, dividend policy measured by dividend payout
ratio, while invesment decision meausred by capital expenditure to book value assets, and firm value measured by
price to book value. The research population was LQ-45 listed on The Indonesia Stock EXchange (IDX) during 5
periods in the 2016 until 2020. This research used quantitative. Meanwhile, the sample collection technique used
purposive sampling technique with determine criteria given by the reseacher. The amount of sample was 14
samples with 70 observations. This research used multiple linear regression analysis technique with SPSS
program. The research result concluded that profitability had a positive effect on the firm value and investment
decision had a positive effect on the firm value and investment decision had a positive effect on the firm value.
Meanwhile, the dividend policy did not affect the firm value.